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Illegal Stock Law & IMF Currencies! April 17/13
The Stop Trading on Congressional Knowledge (STOCK) Act, which Congress passed last spring, was designed to deter insider trading by members of Congress, and some 28,000 senior federal employees.
Under the bill, the Congress, and these Federal Employees would be required to file reports of new transactions in stocks, bonds, commodities or other securities that exceed $1,000 to the Office of Government Ethics — information that would eventually wind up on a publicly searchable database .
This past Monday, 15 April 2013, Congress passed, and Obama signed into law a repeal of a section of the STOCK Act.
Now congress, and other Federal employees can use insider information to buy, and sell stock.
If anyone else does that, it is a crime that involves prison time.
If your in Congress, or the Federal Government, it is now NOT illegal to trade stock based on insider information.
http://www.cnbc.com/id/100647407
http://news.firedoglake.com/2013/04/16/obama-signs-law-gutting-insider-trading-regulations-for-congress/
http://news.firedoglake.com/2013/04/17/insider-trading-by-congress-now-obamas-legacy/
http://video.cnbc.com/gallery/?video=3000161127
http://www.cbsnews.com/video/watch/?id=7411992n
FINANCIAL TITBITS
16 Apr 2013
[Jester] THE WORLD PLAN B IS NOT GOOD FOR THE US .
CANADIAN AND AUSTRAILIAN DOLLARS ARE NEW IMF RESERVE CURRENCIES.
THE BRIICS NATIONS ARE STARTING THEIR OWN CENTRAL BANK.
AUSTRALIA IS PLAYING BOTH SIDES AND HAVE A NEW TRADE AGREEMENT DIRECT WITH CHINA .
CHINA NEEDS THE RESOURCES AND ARE BUYING THEM UP IN A LOT OF PLACES ALL OVER THE WORLD.
REAL WORLD CLUE: BOUGHT A MULTICONGLOMERATE MINING COMPANY IN CANADA . THEY NEED THE RESOURCES TO BE COMPLIANT AS WELL AND ARE TAKING STEPS TO SECURE THEM. IT DOES NOT MATTER WHERE THEY ARE AS LONG AS THEY OWN THEM.
Gold and Silver : Post-Crash Analysis
Publication date : 2013-04-17
There is strictly nothing happening now on the gold and silver markets that would be related to fundamentals. This crash, just like the other ones, is orchestrated, and it doesn’t reflect the extremely tense situation on the physical gold and silver markets.
Here is how some of the significant elements are to be taken into account. I have put them in three different categories :
1) The Global Context 2) The Situation on the « Paper » Gold Market 3) The Situation on the Real Physical Gold Market
1) The Global Context : Nothing has Changed
- Protecting the Dollar :
Price manipulation has but one goal : protecting the value of the dollar in order to keep the Fed in control of interest rates and, thus, in control of US Treasury bonds and derivatives, largely held by the big banks.
If the Fed loses control of the dollar, which is bound to happen inevitably, since it’s printing billions of dollars every month, interest rates are going to go up radically, the value of US bonds will crash, the credit derivatives bubble will explode, taking with it the whole banking system.
Manipulating the price of gold serves the purpose, for the masses, of destroying the signal that would reflect the upcoming crash of the dollar and, by way of contagion, of the whole financial system.
Let me refer you to an excellent article by Paul Craig Roberts which explains in details how this recent manipulation took place and to whom it profits.
- The Fed continues to print $85 Billion each month. Japan announced the most ambitious quantitative easing plan of its history with an injection of $1.4 Trillion within two years. All this with no signs of any limitations on QE-type inflationary monetary policies.
- Holland’s Prime Minister has confirmed, as has a report from the FDIC, that deposits confiscations in Europe will be applied in future bailout plans, like in Cyprus. Trust in the European banking system is now at its lowest.
- Since 2007, the S&P has progressed by a mere 1% and, even after the last days’ correction, gold has performed over 100%.
- The gold spot price, this year, tumbled less than Apple shares, which lost 39% since its peak of last year.
2) The Situation on the « Paper » Gold Market
- Between Friday, April 12 and Monday, April 15, 1 million short contracts have been sold on the COMEX, i.e. 12% more than the annual world gold production.
- 150 tons of paper-gold were sold within an hour last Friday.
This sale was realised on the COMEX by a single entity, and it triggered a cascade of forced selling by investors totalling 500 tons of gold. One could logically ask the following question : Who has the financial power to realise such an operation? No trader ever sells such a position in one block at once.
Paul Craig Roberts: « Who has the capacity to sell the equivalent of 500 tons of gold on the markets for an amount of $24.8 Billion (or 16,000,000 ounces of gold, about 15% of world global production)? Who would own so much gold, enough to cover eventual delivery requests on those naked shorts?
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